All Articles Tagged - NZDUSD

Daily Market Comment – ECB fires another salvo at the euro

Posted on September 3, 2020 at 8:19 am GMT

Euro/dollar extends correction lower after ECB officials raise the FX alarm Wall Street goes on a rampage as US government hypes a vaccine breakthrough Today: ISM non-manufacturing PMI, jobless claims, and central bank speakers ECB: The dollar’s unlikely hero The world’s most traded currency pair continues to drift lower, after the European Central Bank fired another verbal barrage to shoot the high-flying euro down. The latest media reports suggest “several” ECB officials are concerned that if the euro continues to [..]

Daily Market Comment – Manufacturing data revive dollar, ECB wary of euro

Posted on September 2, 2020 at 8:14 am GMT

Encouraging ISM data bring dollar back to life, Wall Street sets new records Europe enters deflation, ECB chief economist throws first jab at the euro Today: ADP jobs report and lots of central bank speakers US manufacturing data give dollar the kiss of life A strong batch of US manufacturing numbers resurrected the dollar from the ranks of the dead and propelled Wall Street to another record high yesterday. The ISM manufacturing index jumped to its highest level in [..]

Technical Analysis – NZDUSD bullish at 8-month top of 0.6787

Posted on September 2, 2020 at 6:50 am GMT

NZDUSD is continuing last week’s rebound with strong momentum, reaching eight-month highs at 0.6787 today and at the same time confirming the bullish tendency again. The short-term bias looks positive as the MACD keeps gaining ground above its red signal line, while the RSI seems to be making its way up above its 70 mark, though more progress is needed from the latter. However, the stochastics is looking overbought, as it turns lower above the 80 level. The 0.6940 resistance level identified [..]

Daily Market Comment – Sinking dollar lifts all FX boats

Posted on September 1, 2020 at 8:16 am GMT

Dollar breaks down across multiple charts, without a clear trigger Other major currencies climb alongside gold, Nasdaq hits new records Today: European inflation, US manufacturing, and Fed’s Brainard Dollar: The pain train rolls on There is no shortage of volatility in the FX arena. The world’s reserve currency continues to break down, in fear that the Fed’s new regime shift may succeed in driving inflation higher and diminish the greenback’s future purchasing power. The dollar index sank to a fresh [..]

Technical Analysis – NZDUSD’s ascent quickens; bullish signals enhance bias

Posted on August 28, 2020 at 11:45 am GMT

NZDUSD is fuelling the ascent from the 0.6487 level with its thrust above the high of 0.6690. The positive picture was aided by the strong bullish signals present in the rising Ichimoku lines and the short-term oscillators. Additionally, the approaching bullish crossover of the 100-period simple moving average (SMA) by the 50-period one may further boost the positive picture. The short-term oscillators reflect strengthening positive momentum. The MACD, deep in the positive section, is accelerating above its red signal line, [..]

Week Ahead – US jobs report eyed for recovery progress; Calm and steady at the RBA

Posted on August 28, 2020 at 11:45 am GMT

As a possible fiscal cliff looms in the United States, the August nonfarm payrolls report will be a crucial test for the strength of the economic recovery, making it the highlight of a relatively busier week as summer draws to an end. Canadian employment figures are also on the agenda, while the latest PMIs out of China will be important for market sentiment. But it is the Australian dollar that could see the most crossfire out of the major currencies [..]

Daily Market Comment – Dollar treads water as all eyes on Powell

Posted on August 27, 2020 at 8:37 am GMT

Markets steady as Powell’s highly anticipated Jackson Hole speech awaited Dollar braces for major dovish tilt by the Fed Aussie and kiwi lead the gainers; loonie seeks further oil boost How dovish can the Fed get? Fed chief Jerome Powell will take centre stage when he updates investors on the Fed’s policy framework review at the annual Jackson Hole conference of central bankers, which has gone virtual this year due to the ongoing pandemic. Powell will deliver his hotly anticipated [..]

Technical Analysis – NZDUSD retraces under 50-day SMA; positive signals intact

Posted on August 26, 2020 at 8:25 am GMT

NZDUSD has faded below the 50-day simple moving average (SMA) from a fresh seven-month high of 0.6714, somewhat stalling the bullish picture. However, the strengthening 50- and 100-day SMAs coupled with a forthcoming bullish crossover of the 200-day SMA by the 100-day one, may rapidly guide the pair higher again. The short-term oscillators are transmitting mixed signals of momentum at the moment. The MACD and its red signal line are currently flirting with the neutral mark. On the other hand, [..]

Daily Market Comment – Dollar eases, stocks hit record as US and China reaffirm trade truce

Posted on August 25, 2020 at 8:43 am GMT

US and China hold ‘constructive’ talks, trade deal seen intact Wall Street hits another record; global equities follow suit But dollar only mildly softer as Treasury yields pop higher Phase one trade deal safe for now Washington and Beijing have reaffirmed their commitment to the ‘phase one’ trade deal via a call late on Monday between US Trade Representative Robert Lighthizer, Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He. The talks, which were originally scheduled for August 15, [..]

Daily Market Comment – Virus ‘breakthrough’ lifts stocks; dollar awaits Powell speech

Posted on August 24, 2020 at 9:00 am GMT

Markets start week on positive note amid progress on Covid-19 treatment and vaccine Dollar holds firm as investors gear up for Powell’s big Jackson Hole speech Euro and pound left reeling after data shock and Brexit blow Virus optimism leads equities higher Markets have started the week on a cheery note as news that President Trump has authorized the emergency use of plasma treatment for Covid-19 patents and is considering fast tracking a UK vaccine before the election boosted sentiment. [..]

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